Avis Budget Group Completes Funding, UK Clearance for Zipcar Acquisition

Avis Budget Group Inc. and Zipcar Inc. completed $525 million in debt financing to fund Avis Budget’s pending acquisition of Zipcar, according to a March 8 press release.

Avis Budget also announced the transaction received regulatory clearance in the UK after the UK Office of Fair Trading determined that Avis Budget's planned acquisition of Zipcar does not qualify for investigation under UK antitrust law. The company has already received U.S. antitrust approval, as well as by Zipcar stockholders.

The companies currently anticipate the acquisition to be completed during the week of March 11, subject to customary closing conditions.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Another Ridiculous “Used Fleet Vehicle” Scandal

While media reports concentrate on the sting and the “outrage,” where’s the empirical evidence that fleet vehicles are less mechanically sound than vehicles sold from private owners?

Will IoT Herald a New Era in Fleet Efficiency?

With the ELD rule finally in effect, small fleet operators need to hunt for new efficiencies. In transportation logistics, Internet of Things (IoT) systems could have similar lasting impacts as telematics.

Will Cars Become Transportation Appliances?

The cars are still the stars, but this year’s L.A. Auto Show revealed an auto industry at a crossroads.

Job Finder: Access Top Talent. Fill Key Positions.

>